Joby Aviation (NYSE:JOBY) Trading Down 2.9%

Joby Aviation, Inc. (NYSE:JOBY) traded down 2.9% during mid-day trading on Monday . The stock traded as low as $4.93 and last traded at $4.95. 571,101 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,976,869 shares. The stock had previously closed at $5.10.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday. JPMorgan Chase & Co. raised Joby Aviation from an “underweight” rating to a “neutral” rating and set a $5.00 price target on the stock in a report on Friday, May 3rd.

Joby Aviation Trading Down 5.9 %

The stock has a market capitalization of $3.40 billion, a PE ratio of -6.29 and a beta of 2.00. The firm’s 50-day simple moving average is $5.03 and its two-hundred day simple moving average is $5.47.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue for the quarter was down 97.5% on a year-over-year basis. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Matthew Field sold 13,953 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $4.96, for a total value of $69,206.88. Following the transaction, the insider now directly owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Joeben Bevirt sold 23,750 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $4.96, for a total value of $117,800.00. Following the transaction, the chief executive officer now directly owns 653,011 shares of the company’s stock, valued at $3,238,934.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Field sold 13,953 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the transaction, the insider now directly owns 269,196 shares in the company, valued at $1,335,212.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,587 shares of company stock valued at $422,792. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds have recently bought and sold shares of the business. Monterey Private Wealth Inc. acquired a new position in Joby Aviation during the fourth quarter worth $67,000. International Assets Investment Management LLC acquired a new position in Joby Aviation during the fourth quarter worth $73,000. Teza Capital Management LLC acquired a new position in Joby Aviation during the third quarter worth $76,000. Private Advisor Group LLC acquired a new position in Joby Aviation during the fourth quarter worth $77,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Joby Aviation during the fourth quarter worth $86,000. 45.54% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.